Tag: salary slabs
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‘Tax rate Australia walay aur facilities Afghanistan wali’, Twitter is angry over income tax increase
On Friday, Minister of Finance Ishaq Dar announced fiscal adjustments for the upcoming fiscal year (FY24), part of which is a notable 2.5% additional income tax individuals within the salaried class who earn a monthly income exceeding Rs200,000. The present government is being criticised for adjustments that will increase the tax burden specifically on the…
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Govt raises tax rates for salaried class on IMF demands
In response to the International Monetary Fund’s (IMF) recommendation to eliminate relief provided on June 10, the coalition government on Friday announced amended tax deduction rules for the salaried class. The News reported on Saturday that the Federal Board of Revenue’s (FBR) target for tax collection for the fiscal year 2022–23 has been raised to…
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IMF rejects proposed tax relief for the salaried class
The International Monetary Fund (IMF) has rejected the government’s proposed tax cut in the Personal Income Tax (PIT) to the tune of Rs47 billion, leaving the government with no choice but to reconsider amendments in order to revive the remaining funds. According to The News, the Federal Board of Revenue (FBR) granted relaxation to salaried…
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Here are the latest income tax rates and slabs for salaried class
In the budget for fiscal year 2022-23, the government has exempted those earning up to Rs100,000 per month from paying income tax, up from Rs50,000 last year. For the salaried income group, the latest budget is a mishmash as the government reduced tax rates and the number of slabs while eliminating available credit through the omission…